MURPROTEC: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
MURPROTEC
NACE 43.230, Insulation installation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6.9m
2024 · €5.2m+€1.7m
Equity
€8.3m
2024 · €1.4m+€6.9m
Cash
€6.7m
2024 · €5.9m+€763,471
Balance sheet total
€18.1m
2024 · €19.3m-€1.2m
Largest movements
Assets
- Current investments -€1.4m
down €1.4m (-27.3%), from €5.2m to €3.8m
- Receivables within one year -€988,752
down €988,752 (-22.0%), from €4.5m to €3.5m
of which Trade receivables: -€1.5m
- Cash +€763,471
up €763,471 (+12.9%), from €5.9m to €6.7m
mainly Net result for the year (+€6.9m) and Current investments (+€1.4m)
- Tangible fixed assets +€226,368
up €226,368 (+8.2%), from €2.7m to €3.0m
of which Land and buildings: +€474,698
Equity and liabilities
- Reserves +€6.9m
up €6.9m (+549.6%), from €1.3m to €8.2m
of which Distributable reserves: +€6.9m
- Other debts -€6.0m
down €6.0m (-99.9%), from €6.0m to €8,546
- Trade debts -€2.3m
down €2.3m (-33.1%), from €7.0m to €4.7m
- Advances received +€1.2m
new in 2025: €1.2m
- Accrued charges and deferred income -€882,461
down €882,461 (-75.7%), from €1.2m to €283,602
Income statement
- Turnover +€6.1m
up €6.1m (+15.6%), from €39.0m to €45.0m
- Services and other goods +€1.8m
up €1.8m (+9.0%), from €19.7m to €21.5m
- Staff costs +€1.5m
up €1.5m (+20.3%), from €7.3m to €8.8m
- Taxes +€733,657
up €733,657 (+37.8%), from €1.9m to €2.7m
- Goods and materials +€538,233
up €538,233 (+11.7%), from €4.6m to €5.2m
of which Purchases: +€482,506
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€5.2m
Turnover
+€6.1m
Other operating income
+€86,595
Goods and materials
-€538,233
Services and other goods
-€1.8m
Staff costs
-€1.5m
Depreciation
-€69,842
Write-downs
-€13,781
Provisions
+€93,938
Other operating charges
-€15,231
Financial income
+€80,298
Financial charges
-€2,195
Taxes
-€733,657
Result 2025
€6.9m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€7,661
Investment
+€787,521
Financing
-€31,711
Cash 2024
€5.9m
From operations (derived)
+€7,661
Net result for the year
+€6.9m
Depreciation
+€416,709
Stocks and contracts
-€45,284
Receivables within one year
+€988,752
Deferred charges and accrued income
-€141,515
Provisions
+€82,965
Trade debts
-€2.3m
Tax, wage and social debts
-€143,077
Advances received
+€1.2m
Other debts
-€6.0m
Accrued charges and deferred income
-€882,461
Investment (derived)
+€787,521
Investment in fixed assets (net)
-€632,775
Current investments
+€1.4m
Financing
-€31,711
Debts after one year
-€32,213
Current portion of long-term debt
+€502
Cash 2025
€6.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,302,958 | €18,060,246 | -€1.2m | -6.4% |
| Fixed assets | 21/28 | €2,812,194 | €3,028,260 | +€216,066 | +7.7% |
| Intangible fixed assets | 21 | €28,053 | €12,464 | -€15,589 | -55.6% |
| Tangible fixed assets | 22/27 | €2,747,375 | €2,973,743 | +€226,368 | +8.2% |
| Land and buildings | 22 | €2,014,205 | €2,488,903 | +€474,698 | +23.6% |
| Plant, machinery and equipment | 23 | €357,754 | €316,424 | -€41,330 | -11.6% |
| Furniture and vehicles | 24 | €117,385 | €129,895 | +€12,510 | +10.7% |
| Other tangible fixed assets | 26 | €42,536 | €38,521 | -€4,015 | -9.4% |
| Assets under construction and advance payments | 27 | €215,495 | - | -€215,495 | |
| Financial fixed assets | 28 | €36,766 | €42,053 | +€5,287 | +14.4% |
| Other financial fixed assets | 284/8 | €36,766 | €42,053 | +€5,287 | +14.4% |
| Amounts receivable and cash guarantees | 285/8 | €36,766 | €42,053 | +€5,287 | +14.4% |
| Current assets | 29/58 | €16,490,764 | €15,031,986 | -€1.5m | -8.8% |
| Stocks and contracts in progress | 3 | €709,666 | €754,950 | +€45,284 | +6.4% |
| Stocks | 30/36 | €709,666 | €754,950 | +€45,284 | +6.4% |
| Goods purchased for resale | 34 | €709,666 | €754,950 | +€45,284 | +6.4% |
| Amounts receivable within one year | 40/41 | €4,494,466 | €3,505,714 | -€988,752 | -22.0% |
| Trade receivables | 40 | €3,555,799 | €2,048,315 | -€1.5m | -42.4% |
| Other amounts receivable | 41 | €938,667 | €1,457,399 | +€518,732 | +55.3% |
| Current investments | 50/53 | €5,195,796 | €3,775,500 | -€1.4m | -27.3% |
| Other investments | 51/53 | €5,195,796 | €3,775,500 | -€1.4m | -27.3% |
| Cash at bank and in hand | 54/58 | €5,918,102 | €6,681,573 | +€763,471 | +12.9% |
| Deferred charges and accrued income | 490/1 | €172,734 | €314,249 | +€141,515 | +81.9% |
| Total equity and liabilities | 10/49 | €19,302,958 | €18,060,246 | -€1.2m | -6.4% |
| Equity | 10/15 | €1,375,626 | €8,280,319 | +€6.9m | +501.9% |
| Contributions | 10/11 | €118,131 | €118,131 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €56,631 | €56,631 | = | 0.0% |
| Share premium | 1100/10 | €56,631 | €56,631 | = | 0.0% |
| Reserves | 13 | €1,256,150 | €8,160,209 | +€6.9m | +549.6% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,250,000 | €8,154,059 | +€6.9m | +552.3% |
| Profit (loss) carried forward | 14 | €1,345 | €1,979 | +€634 | +47.1% |
| Provisions and deferred taxes | 16 | €1,483,163 | €1,566,128 | +€82,965 | +5.6% |
| Provisions for liabilities and charges | 160/5 | €1,483,163 | €1,566,128 | +€82,965 | +5.6% |
| Other liabilities and charges | 164/5 | €1,483,163 | €1,566,128 | +€82,965 | +5.6% |
| Amounts payable | 17/49 | €16,444,169 | €8,213,799 | -€8.2m | -50.1% |
| Amounts payable after more than one year | 17 | €201,090 | €168,877 | -€32,213 | -16.0% |
| Financial debts | 170/4 | €201,090 | €168,877 | -€32,213 | -16.0% |
| Credit institutions | 173 | €201,090 | €168,877 | -€32,213 | -16.0% |
| Amounts payable within one year | 42/48 | €15,077,016 | €7,761,320 | -€7.3m | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €31,711 | €32,213 | +€502 | +1.6% |
| Trade debts | 44 | €7,041,208 | €4,708,030 | -€2.3m | -33.1% |
| Suppliers | 440/4 | €7,041,208 | €4,708,030 | -€2.3m | -33.1% |
| Advances received on contracts in progress | 46 | - | €1,160,278 | +€1.2m | |
| Taxes, remuneration and social security | 45 | €1,995,330 | €1,852,253 | -€143,077 | -7.2% |
| Taxes | 450/3 | €716,774 | €355,579 | -€361,195 | -50.4% |
| Remuneration and social security | 454/9 | €1,278,556 | €1,496,674 | +€218,118 | +17.1% |
| Other amounts payable | 47/48 | €6,008,767 | €8,546 | -€6.0m | -99.9% |
| Accrued charges and deferred income | 492/3 | €1,166,063 | €283,602 | -€882,461 | -75.7% |
| Operating income | 70/76A | €39,330,874 | €45,487,049 | +€6.2m | +15.7% |
| Turnover | 70 | €38,956,966 | €45,026,546 | +€6.1m | +15.6% |
| Other operating income | 74 | €373,908 | €460,503 | +€86,595 | +23.2% |
| Operating charges | 60/66A | €32,255,025 | €36,049,471 | +€3.8m | +11.8% |
| Goods for resale, raw materials and consumables | 60 | €4,616,587 | €5,154,820 | +€538,233 | +11.7% |
| Purchases | 600/8 | €4,717,598 | €5,200,104 | +€482,506 | +10.2% |
| Change in stocks: decrease (increase) | 609 | -€101,011 | -€45,284 | +€55,727 | +55.2% |
| Services and other goods | 61 | €19,732,560 | €21,505,584 | +€1.8m | +9.0% |
| Remuneration, social security and pensions | 62 | €7,289,888 | €8,768,161 | +€1.5m | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €346,867 | €416,709 | +€69,842 | +20.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,197 | €48,978 | +€13,781 | +39.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €176,903 | €82,965 | -€93,938 | -53.1% |
| Other operating charges | 640/8 | €57,023 | €72,254 | +€15,231 | +26.7% |
| Operating profit (loss) | 9901 | €7,075,849 | €9,437,578 | +€2.4m | +33.4% |
| Financial income | 75/76B | €89,744 | €170,042 | +€80,298 | +89.5% |
| Recurring financial income | 75 | €89,744 | €170,042 | +€80,298 | +89.5% |
| Income from current assets | 751 | €87,006 | €168,116 | +€81,110 | +93.2% |
| Other financial income | 752/9 | €2,738 | €1,926 | -€812 | -29.7% |
| Financial charges | 65/66B | €23,656 | €25,851 | +€2,195 | +9.3% |
| Recurring financial charges | 65 | €23,656 | €25,851 | +€2,195 | +9.3% |
| Debt charges | 650 | €4,301 | €3,825 | -€476 | -11.1% |
| Other financial charges | 652/9 | €19,355 | €22,026 | +€2,671 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | €7,141,937 | €9,581,769 | +€2.4m | +34.2% |
| Income taxes | 67/77 | €1,943,419 | €2,677,076 | +€733,657 | +37.8% |
| Taxes | 670/3 | €1,943,419 | €2,677,076 | +€733,657 | +37.8% |
| Profit (loss) for the period | 9904 | €5,198,518 | €6,904,693 | +€1.7m | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,198,518 | €6,904,693 | +€1.7m | +32.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.